You may already know that almost all of us have access to the internet (over 81% of the developing world), but what you may not have known is that over 1.7 billion adults have no access to banking services or that of a similar financial organization. This is a striking statistic, considering two-thirds of these unbanked individuals own a mobile phone that (with the help of some internet connection) could provide them access to these financial services.
There are organizations at the helm of digital technology and recognizing the changes that it can bring to how transactions take place. This will give so many of those who are unbanked an opportunity to join the financial system. Tackling this issue became the focal point of all.me, a digital platform and ecosystem which combines a social platform (meNetwork), payment service (mePay) and a marketplace (meMarket). all.me was founded in 2015 so that users would be able to network, earn rewards, shop, and pay using one app!
So what is all.me and how does it work exactly? Well, there are three major components in the all.me ecosystem: a social network, a marketplace, and a payment service. The process is quite creative. You, the user, are rewarded for your activity on the social network, meNetwork. The more active you are the more share you get out of the advertising revenue (up to 50% to be precise).
Once you have all that revenue, you can visit the integrated marketplace, meMarket. Here you are able to buy as well as sell different items. Selling and buying can happen either between users or by reputable brands. Soon, after you’ve filled up your shopping cart, it’s time to pay up using mePay, a payment service that lets you pay in both ME Token and fiat currencies. mePay is due to launch at the end of 2019, so there are great new features to expect ahead.
So, how does this help folks who are unbanked? Turns out that these transactions are done with all.me’s virtual currency called ME. This is a digital asset within the platform that is used for trades or exchanges. all.me has an overall goal to make ME a vital part of everyday life. Why? To simplify the process of daily transactions! The goal is to make use of advanced technologies so that it benefits all people by automating and improving the experience of networking, trading and conducting transactions.
all.me uses new FinTech solutions and digital currencies. In doing so, they are helping to transform the economic prospects of billions of unbanked people who want to integrate into the financial system and increase the value of their assets. The focus of all.me is the people and creating a world using technology which will help improve the lives of people.
Of course, monetization of content isn’t a new concept, but the approach that all.me is taking gives content creators a lot more flexibility. ME is also an important part of the equation. It’s a unifying component that can be used for all virtual currency transactions and can be exchangeable to a currency of your choice. Upon joining all.me, users are given a meWallet, a safe space to store their monthly rewards. This meWallet can be extended to a payment service account and virtual currency wallet. Such option will be available for eligible users who will be ready to pass appropriate KYC/AML procedures. In some regions where virtual currencies are not allowed, users will not be eligible for any virtual currencies transactions, but nevertheless the users will benefit from the rewards on meNetwork and payment services of mePay in fiat currencies. The above opens lots of windows for people who were otherwise limited. The overall benefit? Accelerating social development.
Striking the balance between the pros and cons of decentralization can be a bit of a challenge. On one hand, the freedom to be had from a decentralized product is to some, priceless. On the other hand, misuse of such technology can be a potential threat to the entire system. all.me battles these threats by positioning itself as part of the solution. The tools are there; it is simply a question of making the most of them in order to help improve lives! The biggest aim of this digital platform is to empower people with the best of what innovation and technology have to offer. If you would like to learn more about all.me visit their website at http://all.me/!